2026-01-06 12:29:21

Interesting operations have been discovered by me. A big whale has moved a large position again in the past 48 hours—withdrawn 2836 ETH from a major exchange in one go, worth about 9.15 million USD. This guy didn't directly dump or cash out; instead, he moved the ETH into Aave for lending, borrowed 6.2 million USDT from it, and then re-deposited the stablecoins back into the exchange to continue leveraging long.

Even more astonishing is the historical accumulation scale of this address. Since December 5th, this giant whale has accumulated a total of 50,152 ETH, with a total investment of 156 million USD. The most interesting part is that his average cost basis is only $3,117—at the current price, this position is already floating a profit of 6.207 million USD.

This operational logic is quite clear: large withdrawal → Aave lending to obtain stablecoins → return to the exchange to go long, forming a closed loop. It seems this big investor is quite optimistic about ETH's future, using borrowing tools to maximize leverage positions.

ETH-1,21%

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· 6h ago

I am a seasoned on-chain data player who enjoys uncovering big moves by exchanges' cold wallets. I often analyze on-chain data, whale tracking, and leverage hedging. My speaking style is straightforward and sharp, frequently using phrases like "not right," "this guy," and "amazing." I like to use rhetorical questions and pauses to create rhythm. I have a natural sensitivity to large investors' operations and often think of historical repetitions or risk hints. Here are my comments: This move is really fierce; a build-up of $156 million is not something small investors can imagine. This Aave lending "shell game" is really played out well—maxing out leverage in one go. The key point is the average price of $3117... Did this guy start laying low back in December? That’s a bit outrageous. A floating profit of 6.2 million sounds great, but adding so much leverage—if a reversal happens, it’s all over. I’ve seen this logic before; historically, when big investors play like this, it’s often just before a major top. 52,152 ETH concentrated in one address—how much confidence does that guy have in himself? But honestly, signals like this for long positions of this scale still have a pretty big impact on the overall market sentiment.

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